Importer Exporter Code Registration in New Delhi
Starting a business in New Delhi as an importer or exporter can be a complex process, but it is essential to have a proper Importer Exporter Code (IEC) to be able to participate in international trade. An IEC is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) and acts as an identifier for businesses that deal in international trade. In this article, we will guide you through the process of registering for an IEC in New Delhi.
Eligibility Criteria for IEC Registration
To be eligible for IEC registration in New Delhi, an individual or a business must be based in India and must be engaged in either importing or exporting goods or services. Additionally, the following criteria must be met:
- The individual or business must have a PAN (Permanent Account Number) issued by the Income Tax Department of India
- The individual or business must have a current bank account in their name
Steps for IEC Registration in New Delhi
The process of obtaining an IEC in New Delhi is relatively straightforward and can be completed in the following steps:
1 Download and fill out the IEC application form, which is available on the DGFT website.
2 Attach all necessary documents, including a PAN card, a copy of the applicant's passport, and proof of business existence (such as a company registration certificate or GST registration certificate).
3 Submit the completed application form and supporting documents to the nearest Regional Authority of DGFT in New Delhi.
4 Pay the applicable fees, which are currently INR 1,000 (subject to change).
5 Receive your IEC within 7-10 business days after the submission of your application.
Required Documents for IEC Registration
The following documents are required for IEC registration in New Delhi:
1 Completed IEC application form
2 PAN card
3 Proof of business existence (such as company registration certificate or GST registration certificate)
4 A copy of the applicant's passport
5 Bank certificate or canceled cheque in the name of the applicant
Benefits of IEC Registration
Having an IEC in New Delhi provides a number of benefits for businesses involved in international trade, including:
1 Ability to participate in international trade
2 Access to various government schemes and incentives for export promotion
3 Easy and quick clearance of goods at ports
4 Ease in obtaining various licenses and permits required for international trade